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George Goh 'made a mistake' about role of the CIO in investment management businesses: Ng Kok Song

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SINGAPORE — Mr Ng Kok Song has said that his fellow presidential hopeful George Goh is mistaken about the role of the CIO in an investment management company.

"I think Mr Goh made a mistake. He thinks that CIO is chief information officer. CIO at GIC is not chief information officer, it is chief investment officer. And that's a very big difference," he said.

But Mr Ng countered that the chief investment officer is as important, if not more important than the chief executive officer in an investment management company. Mr Ng retired from GIC, Singapore's sovereign wealth fund, in 2013 after 27 years with the organisation. He was appointed GIC's first group chief investment officer in 2007 and held the post until his retirement.Mr Ng also said on Saturday that he empathised with Singaporeans who are feeling the pain of the higher cost of living.

When asked by a journalist if his and Mr Tharman Shanmugaratnam's careers were similar, having both served in GIC and the Monetary Authority of Singapore, Mr Ng stressed that he served as a public service officer, not a political leader or minister. On when he plans to announce the identities of his assenters, he said"the right time" would be on Nomination Day.

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George Goh 'made a mistake' about role of the CIO in investment management businesses: Ng Kok SongFormer GIC chief investment officer Ng Kok Song was responding to comments made by fellow presidential hopeful George Goh that appeared to be directed at him.
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